What's hiding in the Terms of Trade? A Customer Perspective on GSAs
Friday, September 20, 2024
When entering relationships with new suppliers, it’s essential to carefully review the terms of trade, especially if they include a General Security Agreement (GSA). While a GSA can offer credit benefits, it also carries significant risks, potentially leading to receivership if payment issues arise. Understanding these terms is crucial to protecting your business.
Read morePurchaser Failure to Settle on a Property Purchase: Rights and Remedies
Tuesday, February 7, 2023
The recent fall in property values across New Zealand has led to numerous purchasers being unable to obtain finance and complete settlement. This leaves both vendor and purchaser in an awful position, with lawyers scrambling to minimise the losses suffered on each side.
Read moreADLS/REINZ Sale and Purchase Agreement: Claim for Compensation
Friday, October 14, 2022
If the purchaser discovers a defect with the property or breach of the sale and purchase agreement by the vendor just days before settlement is due, what can the purchaser and vendor do in that situation? Can the vendor force settlement? Should the purchaser be allowed to claim a reduction in the purchase price? The claim for compensation provisions were designed to achieve both objectives, requiring settlement to occur subject to some adjustment of the purchase price payable on settlement.
Read moreAre You Sure You Want To Give That Warranty?
Tuesday, September 7, 2021
When you are selling a property it is common to list the 'Chattels' which you are to be selling with the building. Chattels are items which are able to be removed from a property without too much effort, and which were never intended to permanently form part of the structure. Common examples are an oven, paintings or a fridge. Occasionally they can be large eg a spa pool or garden shed. If it can fit on a truck, it may well be a chattel.
Read moreAmendments to the Residential Tenancies Act 1986
Wednesday, January 20, 2021
Vast changes to the Residential Tenancies Act, what landlords need to know of their rights and obligations to tenants. With the increasing number of New Zealanders renting, Parliament has seen it fit to make changes to the Residential Tenancies Act 1986 ("the Act") to ensure renters are occupying warm, dry and liveable properties. The reformed Act looks to strike a balance between providing security and stability to tenants, while protecting landlord interest. It is important that landlords have an understanding of the new obligations and responsibilities the amended legislation imposes upon them, along with the penalties they may incur if not followed.
Read moreUpdate on recent amendments of the Real Estate Agents Act 2008 and recent decision of the Real Estate Agents Disciplinary Tribunal
Thursday, October 24, 2019
Real estate agents or salespersons seeking to challenge a Complaints Assessments Committee's finding of unsatisfactory conduct need now to be aware of a shortened appeal period.
Read moreHouse and Land Package Purchase Issues
Friday, May 12, 2017
Buying a new build "House and Land" package has become a popular option for many first home buyers. It can involve a deposit lower than 20% of purchase price (depending on finance), and means you have the time it takes to build to keep saving towards the purchase of your new home.
Read morePurchasing An Interest In A Retirement Village: What You Need To Know
Thursday, August 25, 2011
Purchasing an interest in a retirement village is not like purchasing a residential property. There is an ongoing relationship between the village operator and the resident which is governed by the terms and conditions set out in what is called an "Occupation Right Agreement".
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